ResMed Inc. (NYSE:RMD) Shares Purchased by Weaver Capital Management LLC

Weaver Capital Management LLC raised its stake in shares of ResMed Inc. (NYSE:RMD) by 26.7% in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,072 shares of the medical equipment provider’s stock after purchasing an additional 437 shares during the period. Weaver Capital Management LLC’s holdings in ResMed were worth $506,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Bank of New York Mellon Corp increased its position in ResMed by 51.4% during the second quarter. Bank of New York Mellon Corp now owns 5,772,761 shares of the medical equipment provider’s stock worth $1,105,022,000 after purchasing an additional 1,959,642 shares during the last quarter. Los Angeles Capital Management LLC increased its position in ResMed by 48.3% during the second quarter. Los Angeles Capital Management LLC now owns 740,226 shares of the medical equipment provider’s stock worth $141,694,000 after purchasing an additional 241,195 shares during the last quarter. Greenvale Capital LLP increased its position in ResMed by 61.1% during the second quarter. Greenvale Capital LLP now owns 725,000 shares of the medical equipment provider’s stock worth $138,780,000 after purchasing an additional 275,000 shares during the last quarter. Dimensional Fund Advisors LP increased its position in ResMed by 19.3% during the second quarter. Dimensional Fund Advisors LP now owns 661,717 shares of the medical equipment provider’s stock worth $126,670,000 after purchasing an additional 107,279 shares during the last quarter. Finally, Tandem Investment Advisors Inc. increased its position in ResMed by 3.0% during the second quarter. Tandem Investment Advisors Inc. now owns 501,391 shares of the medical equipment provider’s stock worth $95,976,000 after purchasing an additional 14,590 shares during the last quarter. Institutional investors and hedge funds own 54.98% of the company’s stock.

Analyst Upgrades and Downgrades

RMD has been the subject of several research analyst reports. KeyCorp upped their price target on shares of ResMed from $238.00 to $251.00 and gave the stock an “overweight” rating in a research report on Friday, August 2nd. Oppenheimer downgraded shares of ResMed from an “outperform” rating to a “market perform” rating in a research note on Tuesday, June 25th. Royal Bank of Canada boosted their price objective on shares of ResMed from $206.00 to $224.00 and gave the stock a “sector perform” rating in a research note on Tuesday, October 1st. Robert W. Baird initiated coverage on shares of ResMed in a research note on Tuesday, September 24th. They set an “outperform” rating and a $280.00 price objective for the company. Finally, StockNews.com upgraded shares of ResMed from a “hold” rating to a “buy” rating in a research note on Tuesday, October 15th. One investment analyst has rated the stock with a sell rating, five have given a hold rating, seven have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $218.18.

Insider Buying and Selling at ResMed

In other ResMed news, insider Justin Leong sold 48,000 shares of the stock in a transaction on Monday, August 5th. The shares were sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the transaction, the insider now directly owns 18,741 shares in the company, valued at $4,068,108.87. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other ResMed news, insider Kaushik Ghoshal sold 5,000 shares of the stock in a transaction on Thursday, September 12th. The shares were sold at an average price of $252.56, for a total transaction of $1,262,800.00. Following the sale, the insider now directly owns 21,788 shares of the company’s stock, valued at approximately $5,502,777.28. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Justin Leong sold 48,000 shares of the stock in a transaction on Monday, August 5th. The stock was sold at an average price of $217.07, for a total transaction of $10,419,360.00. Following the sale, the insider now directly owns 18,741 shares in the company, valued at $4,068,108.87. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 123,874 shares of company stock worth $28,151,142 in the last ninety days. 0.71% of the stock is owned by insiders.

ResMed Price Performance

Shares of RMD stock opened at $239.98 on Wednesday. The company has a market capitalization of $35.22 billion, a PE ratio of 34.63, a price-to-earnings-growth ratio of 2.15 and a beta of 0.69. The firm has a fifty day simple moving average of $239.68 and a 200-day simple moving average of $217.06. The company has a current ratio of 2.59, a quick ratio of 1.69 and a debt-to-equity ratio of 0.14. ResMed Inc. has a twelve month low of $132.24 and a twelve month high of $255.18.

ResMed (NYSE:RMD) last announced its earnings results on Thursday, August 1st. The medical equipment provider reported $2.08 earnings per share for the quarter, beating the consensus estimate of $2.03 by $0.05. ResMed had a net margin of 21.79% and a return on equity of 25.00%. The business had revenue of $1.20 billion during the quarter, compared to the consensus estimate of $1.22 billion. During the same period in the prior year, the firm earned $1.60 earnings per share. The business’s quarterly revenue was up 6.9% compared to the same quarter last year. Equities research analysts anticipate that ResMed Inc. will post 9.08 earnings per share for the current fiscal year.

ResMed Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, September 19th. Shareholders of record on Thursday, August 15th were paid a dividend of $0.53 per share. This represents a $2.12 dividend on an annualized basis and a yield of 0.88%. This is an increase from ResMed’s previous quarterly dividend of $0.48. The ex-dividend date was Thursday, August 15th. ResMed’s dividend payout ratio is 30.59%.

About ResMed

ResMed Inc develops, manufactures, distributes, and markets medical devices and cloud-based software applications for the healthcare markets. The company operates in two segments, Sleep and Respiratory Care, and Software as a Service. It offers various products and solutions for a range of respiratory disorders, including ApneaLink Air, a portable diagnostic device that measures oximetry, respiratory effort, pulse, nasal flow, and snoring; and NightOwl, a portable, cloud-connected, and disposable diagnostic device that measures AHI based on derived peripheral arterial tone, actigraphy, and oximetry over several nights.